Commodity Intraday Technical Outlook 12 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Upward momentum may continue while prices stay $2360. Else, weakness is on the cards.
Silver LBMA Spot
A direct break above $31.50 expect the rally would continue the day. Else, choppy trading expected.
Crude Oil NYMEX
Choppy with recovery upticks expected initially. Anyhow major rallies seen only above $84.
Gold KG Aug
While above Rs 73100 likely to extend rallies. Else, choppy trading expected the day.
Silver KG Sep
Stiff resistance placed at Rs 94000, beak of which would extend rallies. Else weakness expected the day.
Crude Oil Jul
Break above Rs 6950 would trigger another round of rallies. If not, may see choppy with weak bias.
Natural Gas Jul
Choppy with negative bias expected the day.
Copper Jul
Inability to break the support of Rs 868 weakness expected the day.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Further rallies are seen only above Rs 277. If unable to do it may see corrective selling.
Lead Jul
Choppy trades inside Rs 190-188 expected initially and either side breakout would suggest fresh directors.
Aluminium Jul
As long as prices stay below Rs 230 choppy with mild weak bias expected the day.
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